We’ll follow up this post if we’re able to get a little more information.

Update: Xat staff has confirmed that bidders will be able to bid multiple times and that the highest bid will occasionally be updated on Xat’s official twitter feed. As of this posting the highest bid is 10,000 xats.
Update #2: As of this posting the highest bid is 35,000 xats.
Update #3: As of this posting the highest bid is 66,001 xats.
Update #4: As of this posting the highest bid is 76,001 xats.
Update #5: As of this posting the highest bid is 86,001 xats.
Update #6: As of this posting the highest bid is 97,099 xats.